Investment in capital, new technology, and agricultural techniques has not been considered an endeavor worthwhile in a medieval economy because of a lack of strong property rights and no incentive on the part of lords and barons to lend money to or grant rights to peasant farmers. Therefore, the...

There is a great deal of literature on the role of capital investment in the economic transition from feudalism to capitalism. Investment in capital and new technology and agricultural techniques has not been considered worthwhile in a medieval economy because of a lack of strong peasant...

Liquidity creation (the transformation of liquid liabilities into illiquid assets) by banks is positively associated with economic growth at both country and industry levels. Liquidity creation boosts tangible, but not intangible investment and does not contribute to growth in countries with a...